AC PAY R.I.P.

[Wizzo]

Dear Webmaster:

We apologize for our silence over the last few days. As we have stated, our bank has refused to continue processing for 3rd party billing companies due to pressure from Visa/Mastercard, which as many of you know has affected a number of other companies. In recent weeks we have attempted to sell, or transfer the business to another processing company. While at the end of last week we were very close to a deal, the buyer decided to pull out after further review, an examination of industry message boards, and difficulties with their merchant banking relationships. We have been working very hard and have explored every possible option. However, given the current business climate with regard to 3rd party processors, their standing with Visa/Mastercard and the virtually complete unavailability of merchant banking options, this exploration has not been fruitful. With regret, we have decided to discontinue AC Pay / EGS Pay.

In order to ease the transition of your accounts to other processors, we will do the following:

1. We will continue to process existing rebills and pay out commissions on those rebills for the life of the membership. Commission payments scheduled to go out this Wednesday will go out as usual.

2. All new transactions that have been placed in pending status (none of which have been processed) since July 9, 2003 will be transferred, upon your request, to your new processor.

3. We will continue accepting new transactions from your sites and queuing them as pending until August 11, 2003. These transactions will not be processed but will be available to be transferred to your new processor.

4. We have contacted some 3rd party processors who will be able to assist you with new account setup. We will continue to contact other processors, in the mean time you may contact:

- CCBill: (processes US and European transactions)
Contact: Swapna
Office Phone:480-449-7750 x-161
Email: swapna@ccbill.com
ICQ: 116035871

- 2000charge (processes Non-Us transactions)
Phone: 626-585-1814
Email: chan@2000charge.com

- Paycom.net (processes US transactions)
Contact: Jeff Southworth
Phone: 888-627-3888
Email: southworth@paycom.net

5. To initiate the transfer, please have your processor contact us at admin@egspay.com with your Client ID and any data requirements.

We deeply regret the disruption this has caused in your business, and we will do everything we can to ensure that the transition to a new processor goes smoothly.

Sincerely,
Tim Umbreit

[Hell Puppy]

I think what this one proves is that it would be exceedingly difficult, if not impossible, for anyone else to start an IPSP at this point. This means we need the existing ones to survive....

Although they made plenty of mistakes, AC had relatively deep pockets and knowledge of the industry to put behind it, and they still couldn't get it done.

[Hooper]

They handled the end professionally imho. My hat is off to them and I must say that while i've never done a click of biz wit them, i would definitely consider it in the future.

[gonzo]

Originally posted by Hooper@Jul 28 2003, 05:22 PM
They handled the end professionally imho. My hat is off to them and I must say that while i've never done a click of biz wit them, i would definitely consider it in the future.

I believe that makes me 2 for 2.

[Hooper]

Hey fella. dont get a big head. you called globill..

i called ac pay

[sextoyking]

Sad to see another processor close shop..

Only a few left now.

Have some meetings with banking ppl in Prauge when I go over there soon. Don't know if it's worth it now..

[cj]

Originally posted by Hooper@Jul 28 2003, 08:22 PM
They handled the end professionally imho. My hat is off to them and I must say that while i've never done a click of biz wit them, i would definitely consider it in the future.

Hooper, I was just thinking the same thing ...

Kudos to AC Pay for upfront honesty and facing the crisis professionally.

fuck me dead how many more can fall this month?!?!?!? are there any small cc processors left?

[*KK*]

There is some incredibly stupid shit coming down the pipe. Just stuns me into disbelief.

[sextoyking]

KK,

what kind of stupid shit??

[Trax]

what makes me angry that normal sites have a hard time finding solid processing whereas CP shit paysites find 100s of processors charging those sick fucks

[JR]

Originally posted by sextoyking@Jul 28 2003, 11:08 PM
KK,

what kind of stupid shit??

hehe... isn't she great!

[el pres]

Originally posted by *KK*@Jul 29 2003, 01:11 AM
There is some incredibly stupid shit coming down the pipe. Just stuns me into disbelief.

You can't leave people hanging with a comment like that, go on, spill it.

[gonzo]

Originally posted by cj+Jul 28 2003, 07:05 PM-->